Pound Tumbles as Markets Take Fright over Reeves' Budget Woes on UK Productivity

Pound tumbles as markets take fright over Reeves' Budget woes on UK productivity

Sterling dropped to a two-and-a-half-year low against the euro before regaining some ground

Pound falls to 2023 low against Euro as Budget jitters spike

The Pound suffered a sharp drop on Wednesday as investors braced for an economic hit in Rachel Reeves’ forthcoming Budget. Sterling’s downturn came as the UK’s fiscal watchdog looks set to hand a hefty downgrade to the country’s productivity growth. On Wednesday morning, the pound fell 0.4 per cent against the Euro to 1.13 – a level not reached since May 2023. In the afternoon, sterling fluctuated between 1.13 and 1.14. Against the dollar, the p…

Pound Sterling Dips Against Euro and Dollar as UK Tax Hike Concerns Mount

The Pound Sterling came under renewed selling pressure on Tuesday, with broad losses across major currencies as markets turned defensive ahead of key central bank meetings and the late-November UK Budget.